A lock you cannot open early
Every lock with an override eventually meets someone who can
argue for using it. A ZLock basket has no override: the
contract checks the timestamp and reverts, for the founder as
much as for anyone. That is less flexible, and it is the point.
About a dollar, once
A unit is sized to roughly a dollar of components on the day the
basket is created. From the next block on, it is worth whatever
that fixed count of tokens is worth. The dollar was a ruler, not
a peg.
A curve priced in stock
Most curves are priced in ETH, so a coin's chart moves with ETH
whether or not anyone traded. A curve priced in a basket moves
with the basket. Read the chart as "coin per unit of basket" and
the two stories separate cleanly.
Why four years
We cap the lock at 1,460 days. Longer than that and a date stops
being a commitment and becomes a way of never answering. Four
years is long enough to mean it and short enough to arrive.
The founder's two percent
Each trade sets aside 2% for the founder, in basket units. It
accrues on the curve and becomes claimable once the raise target
is hit. Even then it is basket, behind the same date as
everyone's — the founder cannot open it early either.
Graduation day
Here graduation means one thing: the curve reached its raise
target, so the founder's accrued fee can be claimed. The coin
does not move to another venue; it trades on its curve for good.
The basket contract does not notice. The date is the date.
One asset is a basket too
A basket of one — all SGOV, all TSLA — is allowed. It is still
wrapped, still dated, still redeemable one-to-one afterwards.
The lock is what makes it a ZLock coin, not the count.
What we will not say
Safe, insured, guaranteed, audited, backed by partners. None of
those words describe a basket of stock behind a date, so none of
them appear here. If you find one, tell us and we will remove it.